Who is the regulatory authority in Abu Dhabi?

Abu Dhabi Global Market (ADGM) is the international financial center in Abu Dhabi that serves as the regulatory authority overseeing financial services, including crypto asset activities.

What is the minimum threshold for the Crypto Travel Rule in Abu Dhabi?

The same scope of Travel Rule obligations applies regardless of transaction amount. 

Authorised Persons and Recognised Bodies should note that, pursuant to section 10.3, the Regulator does not differentiate between the responsibilities of the originator or the beneficiary when it comes to ensuring that all relevant information accompanies a wire transfer, and that no de minimis threshold is applied to the size of a relevant wire transfer. ¹ 

What personally identifiable information must VASPs collect and share for the Crypto Travel Rule  in Abu Dhabi?

According to section 10.3.2 (3), Authorised Persons and Recognised Bodies must ensure the following information accompanies all wire transfers ²

• Name of the originator
• Originator account number or unique transaction reference number
• Originator’s address, national identity number, travel document number, customer identification number, or date and place of birth
• Name of the beneficiary
• Beneficiary account number or unique transaction reference number
  

Are there differences in customer PII requirements for cross-border transfers versus transfers within Abu Dhabi?

No, there are no differences in customer PII requirements for cross-border transfers compared to transfers within Abu Dhabi. The same information must be collected and shared in both cases.

What are the non-custodial or self-hosted wallet requirements in Abu Dhabi?

While there are no specific prescriptive requirements for transactions with self-hosted wallets, the following provisions from the Guidance – Regulation of Virtual Asset Activities in ADGM (VER05.181223) should be taken into account:

1. Authorised Persons must have clear policies and procedures to identify the source of funds and comply with AML Rules, COBS Rules 17.5(c) (Origin and destination of Virtual Asset funds), and 17.5(e) (Risk Management).
2. Avoid transactional interactions with unknown or anonymous counterparts (e.g., via certain peer-to-peer or decentralized exchanges) to remain compliant with FSRA Rules and avoid risks from tainted sources or destinations of funds. ³

Why choose Notabene for crypto Travel Rule Compliance in Abu Dhabi?

Choosing Notabene for crypto Travel Rule compliance in Abu Dhabi ensures seamless adherence to ADGM regulations. With a network of over 1,000 VASPs across 20+ jurisdictions and support for more than 300 wallets, Notabene guarantees 86% of transactions reach their counterparties. Their platform offers real-time decision-making, comprehensive risk assessments, and a unified compliance dashboard, making it easy to manage all Travel Rule transfers securely. By leveraging verified data and advanced automation, Notabene’s SafeTransact helps VASPs identify and stop high-risk activities, ensuring secure and compliant crypto transactions.